Scott Rieckens and his wife Taylor enjoyed a classic Southern California lifestyle.
They lived near a gorgeous beach in sunny San Diego. They frequently dined at sushi restaurants. They drove a BMW.
But after the birth of their daughter, everything changed. Taylor, an intelligent, career-driven, independent woman, suddenly didn’t want to spend any time away from her new baby girl.
And Scott had no idea what to do. Their luxury lifestyle depended on dual incomes.
At first, he tried to come up with a million-dollar idea. If he could just create a wildly successful business, he thought, he could fix this problem. He started binge-listening to podcasts, trying to figure out how to pull in seven figures, fast.
Then he discovered the financial independence movement. And suddenly everything made a lot more sense.
Scott realized that if they gave up their consumption habits — if they moved to an area with a lower cost-of-living, drove less expensive vehicles, or maybe even lived in an RV for awhile — they could enjoy the life they wanted. They could trade luxury labels for time-freedom.
He crunched a few numbers and realized that they could reduce their spending by 70 percent. But it would require HUGE changes, including an out-of-state move.
He wondered how to suggest this idea to his wife.
What did Scott say? How did Taylor come on-board?
And (spoiler alert!) … how did they get so enthusiastic about financial independence that they decided to create a documentary about their journey into this lifestyle?
Find out in today’s episode.
Resources Mentioned:
- Playing With FIRE Documentary
- Mad FIentist
- Happiness is the Only Logical Pursuit – Mr. Money Mustache
- The Tim Ferris Show – Mr. Money Mustache – Living Beautifully on $25-27k Per Year
- A Simple Path to Wealth, by JL Collins
- My favorite two blog posts about Elon Musk:
- Frugalwoods
- Millennial Money
- Math-Shit-Up-Inator (I’m not endorsing this tool, just showing that I believe this quote was Kristy’s)
- J.D. Roth’s Personal Mission Statement
- Scott’s Official (Current) Personal Mission Statement: I want to be present for those who love me and rely on me. I want to live a rich, happy and fulfilling life, and empower others to do the same.
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